MARA Crushes Q3 With $252M Revenue Boom – Bitcoin Mining Giant Posts $123M Profit

Bitcoin miner Marathon Digital (MARA) just flexed its financial muscle – posting a staggering $252.4 million haul in Q3 revenue while banking $123 million in pure profit.

The hash rate hits the fan

While legacy banks scramble to explain their single-digit yields, MARA’s mining ops delivered triple-digit millions – proving once again that crypto assets print money when traditional finance naps at the wheel.

Numbers don’t lie (but Wall Street might)

No creative accounting here: $123 million net income speaks louder than any hedge fund’s excuses about 'market conditions.' The kicker? This performance came during a quarter where half the sector was still recovering from crypto winter.

The closer

Another quarter, another proof point – while the old guard debates 'digital asset viability,' the smart money keeps stacking sats. Just don’t tell the SEC.

MARA expands power and mining operations in West Texas

The company announced a new joint effort with MPLX LP to build power generation facilities and data center campuses in West Texas.

The goal is to use low-cost energy in the region for bitcoin mining and AI computing. MARA and MPLX said they want to “harness massive volumes of low-cost power and channel them toward their most productive use cases, whether that be Bitcoin mining, where load flexibility is key, or AI where lowest cost per token is key.”

MPLX CEO Maryann Mannen said the collaboration will “create additional in-basin demand in the Delaware basin and enhance our natural gas value chain with improved power reliability, benefiting existing producer-customers.”

MARA CEO Fred Thiel said the project gives the company room to adapt its energy usage over time, stating that partnering with MPLX “allows us to leverage lower-cost local natural gas resources and build the foundation for high-performance, efficient data center campuses.” He added that the project could gradually shift from mining to AI and HPC workloads.

During Q3, MARA mined 2,144 bitcoin, down from 2,358 in Q2, but up from 2,070 a year earlier. The company also purchased 2,257 bitcoin during the quarter. MARA ended Q3 holding 52,850 bitcoin, including coins that are loaned, actively managed, or pledged as collateral.

The company’s energized hashrate reached 60.4 EH/s, up from 36.9 EH/s last year. Daily cost per petahash came in at $31.3, up from $28.7 in Q2, but below $37.0 in the same quarter last year.

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